Industry News

AMC plans to launch own crypto

TL;DR Breakdown

• The US company increased the value of its shares by more than 1,500 percent by accepting cryptocurrencies.
• AMC could have a native token that replaces fiat currency payments.

As the cryptocurrencies value increases, AMC’s attraction to the decentralized market grows. Recently the head of an American company said that he could take out a native cryptocurrency as part of his new crypto projects.

This is not the first time that the executive director of the television network has talked about cryptocurrencies and their possible integration into the market. Adam Aron, the AMC CEO, has been buying cryptocurrencies for some time, so his new goals have emerged.

AMC could create its cryptocurrency

The American company AMC seems to resume its operations with cryptocurrencies, or at least that is what the executive director of the chain reflects on Twitter. Adam Aron uses the social network to talk to his fans who follow him and his latest participation in the cryptocurrency market.

Aron organized a survey to determine if cryptocurrencies could be used in his movie chains on social media. The survey ended with an affirmative answer where and AMC started accepting Dogecoin as a means of payment. On the other hand, AMC also said it could accept tokens like BTC, LTC, and ETH as payment shortly.

The rise in his shares caused Aaron’s attraction to cryptocurrencies after accepting DOGE as payment in his cinemas. The chain was on the verge of bankruptcy, but the company recovered thanks to this move promoted by the CEO. With this good result, Aron did not doubt to show the next crypto project, which is to create his crypto.

Cryptocurrencies saved the movie company from bankruptcy

At the beginning of the year, AMC was on the verge of bankruptcy. This was caused by the Covid-19 pandemic, which has limited cinema functions.

However, with its foray into cryptocurrencies, the company overcame itself by making the share price rise. At the moment, AMC shares are trading over $40.66 for an increase in value of 1,924.38 percent in the ten months of the year.

This is because the company accepted DOGE as a payment method. That adoptions wave so far this year also added value to the crypto, making it trade at $0.2455 with an increase of 4.53 percent of its value in one week.

However, the CEO of the American company wants to expand its crypto operations. AMC’s next goals are to create a token backed by the Blockchain network that serves to pay for its services. The crypto plan is in the works, although Adam Aron did not offer any further details.

This post was last modified on October 22, 2021 7:32 am

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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